DAILY MARKET NEWSLETTER 08/02/2024

2024-02-12 05:59
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Crude Oil (WTI)‎ (H4)‎ Intraday: intraday support around 73.20.
 
Pivot:
73.20
 
Our preference:
Long positions above 73.20 with targets at 74.40 & 75.05 in extension.
 
Alternative scenario:
Below 73.20 look for further downside with 72.85 & 72.40 as targets.
 
Comment:
The next resistances are at 74.40 and then at 75.05.
 
Analyst Views Chart
 
 
 
 
 
Bitcoin / Dollar intraday: the RSI is overbought
 
Our pivot point stands at 43470.
 
Our preference:
The upside prevails as long as 43470 is support.
 
Alternative scenario:
Below 43470, expect 42750 and 42320.
 
Comment:
The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 43302 and 43130). Finally, the Bitcoin / Dollar has crossed above its upper Bollinger band (44041).
 
Analyst Views Chart
 
 
 
 
 
GBP/USD Intraday: the upside prevails.
 
Pivot:
1.2600
 
Our preference:
Long positions above 1.2600 with targets at 1.2645 & 1.2665 in extension.
 
Alternative scenario:
Below 1.2600 look for further downside with 1.2580 & 1.2560 as targets.
 
Comment:
The RSI calls for a bounce.
 
Analyst Views Chart
 
 
 
 
 
EUR/USD Intraday: further advance.
 
Pivot:
1.0755
 
Our preference:
Long positions above 1.0755 with targets at 1.0790 & 1.0805 in extension.
 
Alternative scenario:
Below 1.0755 look for further downside with 1.0740 & 1.0725 as targets.
 
Comment:
The RSI is bullish and calls for further upside.
 
Analyst Views Chart
 
 
 
 
 
Nasdaq 100 (CME)‎ (H4)‎ Intraday: the upside prevails.
 
Pivot:
17770.00
 
Our preference:
Long positions above 17770.00 with targets at 17940.00 & 18000.00 in extension.
 
Alternative scenario:
Below 17770.00 look for further downside with 17670.00 & 17590.00 as targets.
 
Comment:
The next resistances are at 17940.00 and then at 18000.00.
 
Analyst Views Chart
 
 
 
 
 
Ether / Dollar intraday: the RSI is overbought
 
Our pivot point stands at 2394.
 
Our preference:
The upside prevails as long as 2394 is support.
 
Alternative scenario:
Below 2394, expect 2349 and 2323.
 
Comment:
The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 2390 and 2378).
 
Analyst Views Chart
 
 
 
 

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